NEW YORK (AP) - The chairman and chief executive of security software
company Symantec Corp. exercised options for 51,216 shares of common stock,
according to a filing with the Securities and Exchange Commission.
In a Form 4 filed with the SEC Tuesday, John Wendell Thompson reported
exercising the options on Monday for $4.32 to $7.33 apiece, then selling 50,000
shares on the same day for $20.20 apiece.
Thompson also surrendered 256 shares back to the company for $20.46 apiece.
Insiders can surrender shares as a way to cover either taxes or the cost of
exercising options.
The stock sale was conducted under a prearranged 10b5-1 trading plan, which
allows a company insider to set up a program in advance for such transactions
and proceed with them even if he or she comes into possession of material
non-public information.
Insiders file Form 4s with the SEC to report transactions in their
companies' shares. Open market purchases and sales must be reported within two
business days of the transaction.
Symantec is based in Cupertino, Calif.
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